Shulou(Shulou.com)11/24 Report--

According to news in the afternoon of April 17, Beijing time, as of the end of March this year, Apple's sales in India reached nearly 6 billion US dollars, an all-time high.

Apple's revenue in India in the past year was about $6 billion at the end of March, up nearly 50 per cent from $4.1 billion a year earlier, according to people familiar with the matter. By contrast, Apple has previously hinted that global revenue will decline in the first quarter of this year compared with the same period a year earlier.

Industry insiders say this highlights the importance of the Indian market to Apple. Later this week, Apple will open its first two retail stores in India to further boost revenue growth.

"India is a very exciting market and a major focus for us," Tim Cook, Apple CEO, also said on an earnings call in February. "We take this market very seriously."

Apple launched its online store in India in 2020 and will open its first physical retail store in an upscale business district of Mumbai, the financial capital, on Tuesday. Two days later, another store will be opened in the capital, New Delhi.

During the outbreak, Apple's sales in India soared. Today, with the support of policies such as trade-in, this growth momentum continues. But Apple still has a small share of the smartphone market in India, with only 4 per cent of the nearly 700m smartphone users using iPhone.

Apple's sales in India were about $4.1 billion in the year to the end of March 2022. Apple is expanding its local production base, though it accounts for less than 2% of its global revenue. Last year, Apple's iPhone production in India tripled to more than $7 billion.

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